IFC injects funds into Colombian bank big on mortgages

Things just got cozier between the International Finance Corp. and Banco Davivienda, a major player in the mortgage sector. In a deal that cements an existing relationship, Davivienda will receive a total $60 million from the multilateral agency in the form of a $25 million purchase of new common shares and stand-by financing of $35 million for subordinated bonds, according to a press release by the IFC.

The percent of Davivienda that the IFC is assuming with its investment was roughly 4%, according to a source familiar with the bank.

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